Tracing Someone Who Owes You Money
What if you have a client who owes you money, but you can no longer get hold of them? Someone who owes you money who has ‘disappeared’. Well tracing is a sort of magic on its own. With debtors defaulting on their payments on the rise tracing is ideal! If you delivered a service in exchange for payment, but payment was never received, you can now approach a tracing agent.
What is a trace?
A trace is when you pull a report on someone to see if there are any updated information.
What information does a tracer need in order to perform a trace?
A trace can be done by simply providing the last know cell number, company name, individual name and surname, last know address or even ID number/registration number respectively. Or all of the above.
Which tracing systems are used?
Traceps, CIPC, EXPERIAM, XDS, and TransUnion are simple, yet powerful systems that allows you the opportunity to pre-vet individuals and trace the relevant information. These are the systems most tracing agents use when trying to locate a debtor.
What kind of information can I get from a trace?
|Individual trace||Company trace|
|· ID NUMBER|
· RESIDENTIAL ADDRES
· PROPERTY ON THE PERSONS NAME
· POSTAL ADDRESS
· CURRENT EMPLOYER
· PREVIOUS EMPLOYER
· HOME NUMBER
· WORK NUMBER
· CELL NUMBER
· ALTERNATIVE CONTACT NUMBERS
· MARITIAL STATUS
· SPOUSE NAME
· EMAIL ADDRESS
|· REGISTRATION NUMBER|
· REGISTRATION DATE
· TRADING STATUS
· FINANCIAL YEAR END
· BUSINESS DESCRIPTION
· DIRECTORS NAME AND ID NUMBERS
· REGISTERED ADDRESS
Typically tracing agents can charge you anywhere from R200.00 depending on the information need. However, it is important to note that the POPI act does make provision for protecting personal information.
What is the POPI act?
In simple terms, the purpose of the PoPI Act is to ensure that all South African institutions conduct themselves in a responsible manner when collecting, processing, storing and sharing another entity’s personal information by holding them accountable should they abuse or compromise your personal information in any way. The PoPI legislation basically considers your personal information to be “precious goods”.